U.S. Retail Sales Update: March 2022 [EconTax Blog]

Apr 18, 2022 - U.S. retail sales (seasonally adjusted) grew 0.5 percent from February to March.
https://lao.ca.gov/LAOEconTax/Article/Detail/731

Home Prices Update: September 2021 [EconTax Blog]

Oct 20, 2021 - All the other large counties in the state have seen growth near or above 20 percent, with San Francisco ’s relatively affordable neighbors Alameda and Contra Costa seeing higher growth than most. San Joaquin county, which is increasingly becoming a bedroom community for the Bay Area, has seen growth above 30 percent.  
https://lao.ca.gov/LAOEconTax/Article/Detail/706

September 2019 State Tax Collections [EconTax Blog]

Oct 11, 2019 - (Such changes in behavior should occur regardless of state tax conformity because the state tax rate is much lower than the federal rate.)  
https://lao.ca.gov/LAOEconTax/Article/Detail/405

The 2022-23 Budget: Municipal Stormwater and Urban Runoff Discharges Mandate

Feb 28, 2022 - The Governor ’s budget proposal includes $18.4  million in one ‑time General Fund to reimburse certain local governments in Los Angeles County for costs related to the Municipal Stormwater and Urban Runoff Discharges mandate.
https://lao.ca.gov/Publications/Report/4565

August 2019 State Tax Collections [EconTax Blog]

Sep 20, 2019 - August 2019 State Tax Collections [EconTax Blog] Carolyn Chu August Revenues Slightly Below Projections. As seen in the figure below, August revenue collections across the state ’s three largest revenue sources —personal income tax (PIT), corporation tax, and sales tax —fell almost $380 million below projections.
https://lao.ca.gov/LAOEconTax/Article/Detail/401

A Review of State Standards and Inspections for Local Detention Facilities

Feb 16, 2021 - To pay for this realigned workload, the state provides counties with a portion of annual state sales tax revenue, which has totaled around $ 1  b illion in recent years. Counties use a significant share of these funds to support jails.
https://lao.ca.gov/Publications/Report/4371

The 2019-20 Budget: Tax Conformity [Publication Details]

Mar 6, 2019 - Generally, the federal tax changes reduced tax rates and broadened the tax base (what is subject to tax). Because the state’s income tax laws closely refer to large portions of federal law, many of those changes created new differences between federal and state taxes.
https://lao.ca.gov/Publications/Detail/3959

The 2019-20 Budget: Tax Conformity

Mar 6, 2019 - Generally Reduced Tax Rates . . . The 2017 federal tax law reduced effective tax rates for many filers. (The effective tax rate is the total amount of tax divided by the taxpayer ’s gross income.) In particular, the law: Replaced the previous CT rate structure with a flat 21  p ercent tax rate.
https://lao.ca.gov/Publications/Report/3959

The 2022-23 Budget: Analysis of the Medi-Cal Budget

Feb 9, 2022 - While many details of this proposal remain under development, the funding is intended to go to counties. We plan to analyze this proposal in a separate behavioral health ‑focused budget post. Expansion of Medi ‑Cal to All Income ‑Eligible Californians.
https://lao.ca.gov/Publications/Report/4522

July 2019 State Tax Collections [EconTax Blog]

Aug 19, 2019 - As has been the case throughout 2019, personal income tax (PIT) withholding continues to be strong, growing 5.5  percent compared to the same period last year. Similarly, corporation tax collections also continued to be strong, with estimated payments over 33 percent above the administration ’s projection.
https://lao.ca.gov/LAOEconTax/Article/Detail/391